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Why use this Employee Monthly Performance Review Template?

Benefits of Monthly Performance Review

Monthly employee performance reviews may not be the most enjoyable part of work for managers and team leaders, but they are crucial. Regularly reviewing a team’s performance through a monthly employee review template can have a drastic impact on efficiency and engagement. Companies conducting even half-yearly reviews also see improvement in overall performance. But, the problem with half-yearly or quarterly performance reviews is the time gap between two reviews. If there is no thorough documentation process followed, there can be miscommunication or confusion resulting in an unhealthy working environment.

Here are some advantages of having monthly performance reviews in your organization.

Understand Training Needs of Employees

Monthly performance reviews of employees help managers to understand their hidden capabilities and skills they lack. Since there is a regular interaction between them, it’s easier for managers to gauge the employees. So, managers can plan specific training programs for employees to develop their skills and harness hidden capabilities. Include questions related to training programs in the employee performance review template.

Better Parameters for Promotion

Monthly employee reviews help managers to make fair decisions about promotions. In the case of half-yearly or quarterly reviews, the employees may tend to perform better when the appraisal is nearing. This does not give a clear picture unless everything is documented properly, which seldom happens. Our monthly performance review template can be circulated to employees or managers to collect inputs and face-to-face meetings can be arranged based on them.

Improved Employee Engagement

Since the frequency of interaction between managers and employees is healthy, there are more opportunities to thank the team members. This definitely boosts employee morale and therefore their engagement in work. And, since they know that their effort will not go unnoticed, they are more than excited to give their best.

Improved Working Relations

Usually, monthly performance reviews are more of casual interactions than formal ones. This gives enough space for both managers and employees to understand each other better and build healthy personal relationships. For a workplace to be healthy, it’s very important for the team member to share healthy professional and personal relationships.

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